Willem Buiter Commentary:

Monetary Policy and Central Banks

  1. "Why Have Inflation Forecasts Been So Wrong?" Project Syndicate, 1 April 2024. With Ebrahim Rahbari.

  2. "Central Banks Need to Be Honest About Their Losses." Project Syndicate, 5 March 2024.

  3. "The ECB Should Change Three Bad Habits." Project Syndicate, 17 January 2024. With Ebrahim Rahbari.

  4. "How Fiscal is the Fed?" Jackson Hole Economics, 8 January 2024.

  5. “Towards an Enhanced Lender of Last Resort and Market Maker of Last Resort.” Centre for Economic Policy Research Discussion Paper DP17862, 31 January 2023.

  6. “Relearning Inflation Control in the Post-Covid Era.” In Robert Z. Aliber, Mar Gudmundsson and Gylfi Zoega eds.. Fault Lines After COVID-19, Global Economic Challenges and Opportunities. Cham, Switzerland: Palgrave Macmillan, 2023, pp. 201–16. First Online 27 September 2023.

  7. "A Farewell to Cash." Project Syndicate, 11 December 2023.

  8. "The Widespread Failure of Central Banks to Control Inflation." Economic Affairs 43 (2023): 2–31. First published 15 March 2023.

  9. "Is the Fed's Negative Capital a Problem?" Project Syndicate, 28 September 2023.

  10. "Cashing Out: The Case for Central Bank Digital Currencies." Huawei, 15 September 2023.

  11. "The Overwhelming Case for CBDCs." Project Syndicate, 18 April 2023.

  12. "Expert Says not to Blame Fed for Bank Failures. Hear Why." CNN interview, 28 March 2023.

  13. "Price Stability vs. Financial Stabililty?" Project Syndicate, 20 March 2023.

  14. Stabilizing Financial Markets: Lending and Market Making as a Last Resort. European Systemic Risk Board. Report of the Scientific Committee, No. 13, January 2023. With Stephen Cecchetti, Kathryn Dominguez, and Antonio Sánchez Serrano.

  15. "Secular Stagnation, Not Secular Stagflation." Project Syndicate, 6 January 2023.

  16. "Too Much Gloom and Doom?" Project Syndicate, 12 December 2022.

  17. MNI PODCAST: FedSpeak - Buiter Sees UK Rates As High As 6%.

  18. "The Bank of England’s Imperfect Intervention." Project Syndicate, 22 October 2022. With Anne C. Sibert.

  19. "It’s Not the Bank of England’s Job to Help Ailing Energy Companies." Financial Times, 17 October 2022. With Anne C. Sibert.

  20. "Markets Don’t Believe Liz Truss’s Numbers. They’re Right Not To." Barrons, 26 September 2022. With Anne C. Sibert.

  21. "Central Banks Are Still Far Behind the Inflation Curve." Project Syndicate, 9 June 2022. With Anne C. Sibert.

  22. "Fiscal Capture at the ECB." Project Syndicate, 16 May 2022.

  23. "Towards an Enhance Lender of Last Resort and Market Maker of Last Resort." video, Faculti, 1 March 2022.

  24. "The Case Against Fed Gradualism." Project Syndicate, 22 February 2022.

  25. "The Trouble with Argentina." Project Syndicate, 20 January 2022. With Anne C. Sibert.

  26. "The Case Against Green Central Banking." Project Syndicate, 26 November 2021.

  27. "The Fed Must Abandon Average Inflation Targeting." Financial Times, 14 November 2021.

  28. "Central Banks and the Looming Financial Reckoning." Project Syndicate, 4 October 2021.

  29. "Towards an Enhanced Lender of Last Resort and a Market Maker of Last Resort." Paper presented at the International Finance and Banking Society conference, Oxford University, 13 September 2021.

  30. "The Fed Must Step Up Again." Project Syndicate, 26 January 2021.

  31. "The Eurosystem: An Accident Waiting to Happen." Project Syndicate, 1 October 2020.

  32. "The Fed's Dangerous New Strategy." Project Syndicate, 31 August 2020.

  33. "Three Strikes Against the Fed." Vox, 3 July 2020.

  34. "Germany’s Judges Declare War on the ECB." Project Syndicate, 5 May 2020.

  35. "The Problem with MMT." Project Syndicate, 4 May 2020.

  36. "The Helicopters Are Coming." Project Syndicate, 26 March 2020.

  37. "When 'Whatever it Takes' Isn't Enough." Project Syndicate, 17 March 2020.

  38. "The New Normal Should Be Cashless." Project Syndicate, 25 February 2020.

  39. "When Central Banks Go Green." Project Syndicate, 2 January 2020.

  40. "Financial Stability Should be Central Banking's Prime Objective." Project Syndicate, 11 December 2019.

  41. "The Federal Reserve Will Have to be Creative in the Next Recession. Its Room for Manoeuvre on Conventional Monetary Policy is Small." Financial Times, Opinion, 8 December 2019.

  42. "Central Bank Independence: Mirage and Mythos." Powerpoint presentation. Bank of England Independence: 20 years on Conference. Bank of England, London, 29 September 2017.

  43. "Towards the Brave New World of Negative Interest Rates and a Cashless Society." Nikkei Asian Review, 30 March 2016.

  44. "The Fed's Bad Manners Risk Offending Foreigners." (Not my title!) Financial Times, Opinion, 4 February 2014.

  45. "The Unfortunate Uselessness of Most ’State of the Art’ Academic Monetary Economics." VoxEU, 6 March 2009. Also available here.

  46. "Can Central Banks Go Broke?" CEPR Policy Insight No. 24, May 2008.

  47. "Clipping Central Bankers' Wings." Central Banking, vol. 43 (November 2007): 28-32. Abstract.

  48. "Targets, Instruments and Institutional Arrangements for an Effective Monetary Authority." Seventh L.K. Jha Memorial Lecture. Reserve Bank of India. Mumbai, October 2007. Publishied in L.K. Jha Memorial Lecture Series. Mumbai: Reserve Bank of India, pp. 117–46. With Anne C. Sibert.

  49. "MPC Past Present and Future; The Good, the Bad and the Ugly." Presentation prepared for the Bank of England's Graduate Induction Programme, 11 October 2007.

  50. "What Should the Authorities Have Done?" Presentation prepared for the Financial Crisis Conference. London Financial Regulation Seminar, 1 October 2007.

  51. "Bail-Out That Will Damage Bank's Credibility." Financial Times. Comment. Comments & Analysis page, 16 September 2007. With Anne C. Sibert.

  52. "Three Steps to Calm the Storm." Financial Times. Comment. Comments & Analysis page, 6 September 2007. With Anne C. Sibert.

  53. "The Folly of the Fed or: Why is the Fed So Hardcore?" In Maverecon, my Financial Times blog, which can be found here, 30 June 2007.

  54. "High Degree of ECB Independence in Securities Sector is Undesirable." Financial Times. Leaders & Letters page, 19 January 2007.

  55. "Monetary Economics and the Political Economy of Central Banking: The Twin Threats of Sloppy Analysis and Institutional Hubris." Background paper for a lecture. XI Meeting of the Research Network of Central Banks of the Americas, Buenos Aires, 22 - 24 November 2006.

  56. "Let Us debate Whether the UK Can be Financed With Taxes that Do not Exceed 33 Per Cent of GDP." Financial Times. Leaders & Letters page, 1 November 2006. With Anne C. Sibert.

  57. "Rethinking Inflation Targeting and Central Bank Independence." Background paper for an Inaugural Lecture for the Chair of European Political Economy. European Institute, London School of Economics and Political Science, London 26 October 2006. Shorter version.

  58. "Prospects for Global Inflation." Mimeo. European Institute, London School of Economics and Political Science, 11 October 2006.

  59. "Threats to the Orderly Resolution of Global Imbalances: Trade Disputes, Abrupt Corrections of Global Asset Market Anomalies, and Past, Present and Future Monetary Policy Errors by the Fed." Mimeo. European Institute, London School of Economics and Political Science, 11 October 2006.

  60. "A Wave of Unilateral 'Euro-isations' Would Confound the EU's Mean-Spirited Legal Nitpickers." Comment on Georgi Angelo. "How to Gate-Crash the Eurozone." Europe's World (Autumn 2006). With Anne C. Sibert.

  61. "How Robust is the New Conventional Wisdom in Monetary Policy? The Surprising Fragility of the Theoretical Foundations of Inflation Targeting and Central Bank Independence." Paper. 2006 Central Bank Governors' Symposium: Challenges to Monetary Theory. Bank of England, 23 June 2006. Mimeo. European Institute, London School of Economics and Political Science, June 2006.

  62. "Lithuania Exclusion From Eurozone Violates Spirit of the Entry Treaty." Financial Times. Leaders & Letters page, 19 May 2006. With Anne Sibert.

  63. "Europe Must Relax its Inflation Test for Euro Entrants." Financial Times. Comment & Analysis/Comment page, May 4, 2006. With Anne C. Sibert.

  64. "New MPC Member Must be Professional Economist." Financial Times. Leaders & Letters page, 25/26 February 2006.

  65. "The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Why New Keynesian Central Bankers Should Validate Core Inflation." European Central Bank Working Paper Series No. 609, April 2006.

  66. "What Accounts for the Bias in the Inflation Targeting Performance of the Bank of England?" Mimeo. Universiteit van Amsterdam. February 2005.

  67. "Deflation: Prevention and Cure." NBER Working Paper W9623, April 2003. Abstract. Technical Appendix.

  68. "Monetary Misconceptions." London School of Economics, Centre for Economic Performance, Discussion Paper 469, August 2000.
  69. "Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales." Paper expanding a speech. Aberdeen Chamber of Commerce, 27 October 1999.

  70. "The Concept and Measurement of Domestically Generated Inflation." Mimeo. University of Cambridge, March 1998.